Home » Emerging Trends » Ikea invests Rs 750 crore on distribution centre in Maharashtra

Ikea invests Rs 750 crore on distribution centre in Maharashtra

Sep 26, 2018 | Emerging Trends, India

Swedish home furnishing firm Ikea has allocated an investment of Rs 750 crore which is approx $117 million for a allotment centre in Maharashtra, which will provide to the needs in the state, a top company official said.

Ikea, which has entered the Indian market recently, has already begun investing profoundly in the country and of late opened Rs 100 crore distribution centers in Pune and is on the sentinel for land to build a bigger centre. Last year, the furniture merchant had opened its first empirical centre ‘IKEA Hej Home’ in Hyderabad where it is has opened its first store this year.

“We have opened a 2.3 lakh sq ft distribution centre in Pune, on rent land and have propel in Rs 100 crore into this. We will expand this to 3.7 lakh sq ft by next year,” Manager of Distribution Operations at IKEA India- Bimal Patel, said this to news agency PTI.

“We are also scouting for more land in Maharashtra to build our own warehousing facilities over the next two to three years, and have earmarked an outlay of Rs 750 crore for this,” he further said. “We have hired about 100 people and 50 percent of them are women. We are looking to hire another 200 people once our distribution operations are running in full steam,” Patel added.

Ikea is likely to open three flagship stores in India this year, one in Hyderabad, one in Mumbai, and one in Bengaluru. The company also recently acquires land to open stores in NCR Delhi.

Ikea has set an intention of 25 stores by 2025 for the Indian market. Presently, IKEA sources components from 11 suppliers in class such as textiles, metal, carbon steel and plastic in the state. IKEA plans to invent more of its products in Maharashtra and then look for new suppliers and diversify.

Headquartered in Netherlands, the company is looking to work together with the State Government and is looking for partners to source local raw material. The company would create more jobs through its trade and distribution center operations. Each IKEA store will engage 2,000 co- workers of which 800 will be directly employed.

Currently, there are 403 IKEA stores in 49 countries with a sales volume of euros 38.3 billion.

Article Source: www.thehindubusinessline.com/news

Up to 15% Returns on Investment

Fixed return investments fully backed by properties.

*15% p.a. paid at the end of the term on capital gain option*

 

Submit your email address and a member of our team will contact you shortly. Usual response time is 1-2 hours.

Nagpur- India’s Future City!

Megacities are metropolitans that have populations in surfeit of 10 million inhabitants and contemplate major economic weight in their respective countries. Our Indian Cities database predicts the future Indian megacities to record the fastest rate of real GDP growth...

Shortage of Rooms in Sihanoukville

Many in the Kingdom’s southern coastal city of Sihanoukville have expressed concern over the toll that increased development is taking on the land and environment. Noting a surge of hotels, condominiums and casinos popping up on the strength of Chinese investments and...

UP TO 15% PER YEAR FIXED RETURN

 

Flexible Terms

3 year investment plan, ideal for first-time investors.

Flexible Payment Options

Option to receive interest payments monthly or quarterly.

Share This

Share this post with your friends!